Western Uranium & Vanadium Corp. announced a brokered private placement financing to issue 5,215,828 units at a price of CAD 1.39 per unit for aggregate gross proceeds of up to CAD 7,250,000.92 on a best efforts agency basis on December 4, 2023. Each unit will be comprised of one common share and one half of one common share purchase warrant, each whole warrant being exercisable for one common share of the Company at a price of CAD 1.88 per share, for a period of four years.

The securities issuable pursuant to the LIFE exemption will not be subject to any statutory hold period under applicable Canadian securities laws. Closing of the offering is subject to certain conditions and receipt of all necessary approvals, including compliance with the requirements of the Canadian Securities Exchange. A commission will be paid to A.G.P. Canada Investments ULC on proceeds raised from the offering through their efforts.

The commission will be comprised of a cash commission equal to 7% of the gross proceeds so raised in the offering.